With 4.7% CAGR, Global Melamine Panel Market Size Worth US$ 11.7 Bn by 2028 | Zion Market Research | Global Industry Trends, Share, Growth, Value, Analysis & Forecast Report

NEW YORK, Aug. 1, 2022 /PRNewswire/ -- As per Zion Market Research study, The global melamine panel market size was worth around USD 8.9 billion in 2021 and is estimated to grow to about USD 11.7 billion by 2028, with a compound annual growth rate (CAGR) of approximately 4.7% over the forecast period.

Melamine Panel Market: Overview

Melamine panels are made from resin-impregnated paper that has been heat-pressed to create a strong, hard surface. They are commonly used in the creation of kitchen cabinets, countertops, and other items of the house furniture. Melamine panels are also used in the construction industry for wall paneling, office dividers, and retail fittings. With its strong, hard, glossy, and excellent resistance to heat, moisture, stains, and wear from end-use sectors like building and construction, automotive, food and beverage applications, and textile applications, the demand for melamine panels is anticipated to rise. The growing usage of melamine panels in the production of wood glue and its application in the bonding of medium-density fiberboard and hardwood with laminates are two factors that have contributed significantly to the growth of the global melamine panels market. Future expansion of the melamine panels industry is also predicted to be fueled by the expanding usage of melamine resins and foams in products like high-strength concrete, thermoset polymers, and carbon nanotubes.

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Key Industry Insights & Findings of the Melamine Panel Market Reports:

• As per the analysis shared by our research analyst, the Melamine Panel Market is expected to grow annually at a CAGR of around 4.7 % (2022-2028).
• Through the primary research, it was established that the Melamine Panel Market was valued at approximately USD 8.9 billion in 2021 and is projected to reach roughly USD 11.7 billion by 2028.
• Strong demand for laminate-based furniture and storage cabinets as well as wood adhesives is likely to result from rising residential and renovation activities, which is also expected to fuel market expansion.
• Luxury furnishings and building supplies with melamine finishes are in high demand in Asia Pacific region because of the high degree of discretionary affluence there
• The rapid infrastructural development and the demand for high-end consumer goods are the key factors driving melamine panel demand in Asia Pacific region.
• The market will expand due to the rising demand for melamine foam, which is lightweight and ideal for components requiring high-temperature thermal insulation and sound absorption.

Zion Market Research published the latest report titled "Melamine Panel Market By Type (Particle Panels, Density Panels), By Application (Walls, Decorative Materials, Roof, Floors, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Predictions 2022 – 2028." into their research database.

Industry Dynamics:

Melamine Panel Market: Growth Drivers

• The market will grow as a result of the rising demand for melamine panels from the automotive industry.

Melamine resins have strong chemical resistance, can sustain high temperatures, and cure quickly. These are employed in the production of ornamental laminates for car interiors and for covering automobile surfaces. Melamine is a heat-reactive resin that is used in coatings to improve weather resistance and mar resistance. Melamine resin coatings also assist in lowering solvent emissions from automobiles, which benefits the environment. The market will expand due to the rising demand for melamine foam, which is lightweight and ideal for components requiring high-temperature thermal insulation and sound absorption. The demand for melamine panels is expected to increase throughout the forecast period as a result of the expanding automotive industry in various areas.

Melamine Panel Market: Restraints

• Limited design options, artificial materials, and heat resistance will hamper the market growth.

Melamine panels have a low thermal resistance, which makes them particularly prone to damage. Furthermore, melamine panels are composed of artificial materials despite having a beautiful appearance. Furthermore, no door designs or profiles can be routered into melamine panels; they can only have flat surfaces. In the near future, these elements are anticipated to reduce the demand for melamine panels.  

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Melamine Panel Market: Opportunities

• The market is expanding due to an increase in the use of melamine panels in various applications.

Melamine panels are artificial fibers made from a synthetic polymer that contains at least 50% by weight of a cross-linked melamine polymer. Melamine panels have great dimensional and thermal stability at a constant working temperature of roughly 400°F (200°C), poor thermal conductivity, outstanding flame resistance, and self-extinguishing properties. Melamine panels are a well-liked substitute for flame-resistant fabrics due to their advantageous qualities. Melamine foam works well as insulation in constructions with unique pore structures. Melamine panels may also be utilized for fire-blocking materials, such as aircraft seats & upholstery in high-risk occupations, firefighter safety equipment & appliances, beds, and home furnishings. Future uses could also include high-capacity and efficient electrical papers and filter media, high-temperature resistant gloves, tire sealants, thermal insulation liners, and special flame-resistant papers. Therefore, it is anticipated that the global melamine panels market would rise throughout the forecast period due to the rising demand for melamine fibers.

Melamine Panel Market: Challenges

• The growth of the market will be hampered by high melamine toxic levels.

Melamine consumption can cause kidney or bladder stones, reproductive problems, and bladder cancer. The U.S. Food and Drug Administration (FDA) scientists have advised that after melamine and cyanuric acid are absorbed into the bloodstream, they aggregate and interact in urine-filled renal tubules, where they subsequently crystallize and produce enormous amounts of round, yellow crystals that obstruct and kill the renal cells that line the channels, leading to kidney failure. The World Health Organization's director of food safety also determined that the daily intake (TDI) of melamine that doesn't pose a significant danger to health is 0.2 mg per kilogram of body weight. As a result, the high harmful level of melamine may further hinder the market's expansion throughout the anticipated time.

Global Melamine Panel Market: Segmentation

• The global melamine panel market is segregated on the basis of type, application, and region.

By type, the market is divided into particle panels and density panels. In 2021, the density panel dominated the market. A specific kind of melamine panel with a higher density core is known as a density melamine panel. Under intense pressure and heat, wood fibers and synthetic resin are mixed to create them. They become stronger and more resilient as a result, making them perfect for high-traffic areas or places that need extra support. Additionally, they are less likely to dent or deform over time.

By application, the market is divided into walls, decorative materials, roof, floors, and others. The melamine panels market's largest segment, laminates, is expected to grow at a CAGR of 5.1 percent through 2021. The preferred polymer for the ornamental or outside layer of the laminates is melamine resin. Laminates are frequently utilized in electrical, construction, and housing applications and as a result have a positive impact on the growth of the worldwide melamine panels market. Laminates are a great option for both decoration and security. The multilayer structure of melamine laminated sheet includes a bottom, surface, and decorating papers. The ornamental paper's patterns and designs are covered by the surface paper, which increases the surface's brightness, weight, and hardness as well as its resistance to wear and corrosion. With its plastic construction, the melamine laminated sheet offers exceptional heat resistance properties. It won't soften, break, or bubble at a temperature of 100° C. Additionally, it is iron and fire-resistant. Thus, it is anticipated that the market would rise during the forecast period due to the rising demand for melamine in the manufacture of laminate..

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List of Key Players in Melamine Panel Market:

• Timber Products
• Prime Panels
• NZ Panels Group
• Lawcris Panel Products
• Roseburg Forest Products
• Flex Corporation
• Arauco
• Laminex NZ
• Wilsonart Australia
• Funder America Inc.

Key questions answered in this report:

• What are the growth rate forecast and market size for Melamine Panel Market?
• What are the key driving factors propelling the Melamine Panel Market forward?
• What are the most important companies in the Melamine Panel Market Industry?
• What segments does the Melamine Panel Market cover?
• How can I receive a free copy of the Melamine Panel Market sample report and company profiles?

Report Scope:

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Recent Developments

• In November 2021, the second melamine factory of Metafrax Chemicals has taken another step toward completion with the signing of an agreement with Casale in Moscow, Russia, in November 2021 for the last stage of the project, which includes engineering implementation, acquisition of all materials, and construction.

Regional Dominance:

• Asia Pacific will dominate market due to increase urbanization and industrialization.

Asia Pacific will had the largest share in global melamine panels market in 2021. The rising urbanization and industrialization of the area are driving the growth of the melamine panels market. Additionally, as people's disposable income has grown, so has their desire for luxury items, which is raising the demand for melamine panels on the market. China is where the majority of melamine-containing items are made and used. Furthermore, the government's emphasis on infrastructure improvement is fostering an environment that is favorable for the market to expand in this region. Luxury furnishings and building supplies with melamine finishes are in high demand in this region because of the high degree of discretionary affluence there. The rapid infrastructural development and the demand for high-end consumer goods are the key factors driving melamine panel demand in this region..

Global Melamine Panel Market is segmented as follows:

Melamine Panel Market: By Type Outlook (2022-2028)

• Particle Panels
• Density Panels

Melamine Panel Market: By Application Outlook (2022-2028)

• Walls
• Decorative Materials
• Roof
• Floors

Melamine Panel Market: By Region Outlook (2022-2028)

North America

• The U.S.
• Canada

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

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